Summary In today’s era, when inflation and economic pressure are increasing, many people are unable to pay their loans or credit cards on time. Due to this, the debt gradually increases, and the person comes under mental stress. In such a situation, there is a need for a guide who gives the right advice and […]
How does the Ahk Tips Loan Settlement Program work? Read More »
Summary The relationship between IBC Code 2016 and loan settlement has become very important in today’s time. First of all, it is important to understand that IBC, i.e., Insolvency and Bankruptcy Code, is a law that gives the right to initiate bankruptcy proceedings against individuals or companies who do not repay the loan. On the
IBC Code 2016 and loan settlement – what is the connection? Read More »
Summary If we understand the whole topic in brief, then it proves that getting a loan settlement through the court is a legal option for those who are unable to repay the loan in a difficult situation. As the financial problems increase, the mental and social pressure on the person also increases. In such a
How to get a loan settlement done from the court? Read More »
Summary Loan Settlement is a process in which an agreement is made between the borrower and the bank to close the loan by paying a certain amount instead of the full outstanding loan amount. Although this process may be a little relaxing for the borrower, it also hurts the guarantor. The guarantor is a person
Is there any impact on the Guarantor after loan settlement? Read More »
Summary The Loan Settlement Process is a process that comes in handy when a borrower is unable to pay their loan installments on time for any reason. In such a situation, the bank declares him a defaulter, and then the option of settlement arises to close the loan. But this process often becomes long and
How to fast-track the loan settlement process? Read More »
Summary Co-operative Banks work to provide cheap and easy banking services to people in rural and semi-urban areas. These banks lend money to farmers, small traders, and ordinary people; however, many borrowers are unable to repay the loans on time due to financial constraints. In such a situation, Loan Settlement comes out as an important
How is loan settlement done in Co-operative Banks? Read More »
Summary Adopted when it is not possible to pay back the loan is loan settlement. Although many people rely on the Settlement Agency, the truth is you can pay off the loan by personally contacting the bank, even without the agency. First, you should evaluate your financial status; then, you should get in direct contact
How to Settle a Loan Without a Settlement Agency? Read More »
Summary When a person or organization does not repay the installments of the loan taken from the bank on time, then that loan is declared as NPA (Non-Performing Asset). That is, a loan from which the bank is not getting any benefit. But this does not mean that there is no way to resolve it.
How to settle a loan that has been declared NPA? Read More »
Summary Loan settlement happens when the borrower is unable to repay the entire loan and the bank takes a lesser amount and closes the loan. In this process, some part of the loan is forgiven, which is called Forgiven Amount. Now the question arises whether Income Tax is levied on this forgiven amount? First of
Does loan settlement affect Income Tax? Read More »
Summary Loan Settlement Agreement is a legal document that records the loan agreement made by mutual consent between the borrower and the lender in written form. This agreement is made when the borrower is unable to repay the entire loan due to some reason and the lender allows him to repay the loan in a
What is a Loan Settlement Agreement, and how to draft it? Read More »
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